NOT FDIC INSURED | NO BANK GUARANTEE | MAY LOSE VALUE

JPMorgan Funds statistics report: Government Fund Data as of August 31, 2021

Must be preceded or accompanied by a prospectus.

jpmorganfunds.com Table of contents

PERFORMANCE DISCLOSURE Performance at NAV 3 Disclosures 14 Calendar year returns 3 EXPENSES Annual expenses 4 CHARACTERISTICS Fund statistics 5 RATINGS AND RANKINGS Lipper rankings 6 Morningstar ratings 6 HOLDINGS Top holdings w/sector (%) 7 SECTORS Sector allocation (%) 8 Sub-sector breakdown 9 Mortgage detail (%) 10 QUALITY BREAKDOWN Quality breakdown (% market value) 11 AVERAGE LIFE Weighted average life (%) 12 DURATION Effective duration (%) 13 Key rate duration (%) 13

2 STATISTICS REPORT: FUND Performance Data as of August 31, 2021 AVERAGE ANNUAL TOTAL RETURNS (as of 6/30/2021) 30-day 1 month 3 months YTD 1 yr 1 yr 3 yrs 5 yrs 10 yrs 30-day Share class - inception date | share class # unsubsidized (%) (%) (%) (%) (%) (%) (%) (%) SEC yield yield SEC yield A Shares - 3/5/1993 | 3256 -0.26 1.13 -1.01 -1.17 -1.68 4.22 2.04 2.70 0.91 0.76 1.16 with max 3.75% sales charge -3.97 -2.68 -4.73 -4.86 -5.35 2.90 1.26 2.31 C Shares - 3/22/1999 | 3813 -0.31 0.98 -1.51 -1.79 -2.30 3.61 1.39 2.13 0.34 0.30 0.59 with max 1.00% CDSC -1.31 -0.02 -2.51 -2.79 -3.30 3.61 1.39 2.13 I Shares - 2/8/1993 | 3246 -0.33 1.20 -0.92 -0.91 -1.33 4.54 2.32 2.98 1.21 1.05 1.48 R2 Shares - 11/3/2008 | 1045 -0.29 1.04 -1.25 -1.52 -2.04 3.86 1.70 2.41 0.60 0.53 0.85 R3 Shares - 9/9/2016 | 23421 -0.27 1.11 -1.17 -1.27 -1.78 4.12 1.93 2.59 0.84 0.80 1.11 R4 Shares - 9/9/2016 | 23431 -0.25 1.17 -0.91 -0.94 -1.53 4.39 2.18 2.84 1.09 1.05 1.35 R6 Shares - 8/1/2016 | 23291 -0.22 1.23 -0.84 -0.78 -1.29 4.64 2.43 3.03 1.34 1.30 1.61 Bloomberg Barclays U.S. Government Bond Index -0.17 1.79 -1.37 -2.02 -3.10 4.66 2.19 2.78 — — — The performance quoted is past performance and is not a guarantee of future results. Mutual funds are subject to certain market risks. Investment returns and principal value of an investment will fluctuate so that an investor's shares, when redeemed, may be worth more or less than original cost. Current performance may be higher or lower than the performance data shown. For performance current to the most recent month-end, please call 1-800-480-4111.

Calendar year returns 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 A Shares - 3/5/1993 | 3256 10.33 3.28 -3.85 5.25 0.71 1.29 2.08 0.47 6.39 6.56 C Shares - 3/22/1999 | 3813 9.56 2.47 -4.51 4.47 0.04 0.48 1.45 -0.05 5.76 5.95 I Shares - 2/8/1993 | 3246 10.61 3.54 -3.62 5.61 1.02 1.49 2.36 0.84 6.58 6.94 R2 Shares - 11/3/2008 | 1045 10.06 3.04 -4.09 4.97 0.47 1.04 1.78 0.12 6.02 6.19 R3 Shares - 9/9/2016 | 2342 10.21 3.16 -3.97 5.22 0.64 1.10 2.01 0.48 6.19 6.56 R4 Shares - 9/9/2016 | 2343 10.48 3.42 -3.73 5.48 0.90 1.35 2.22 0.63 6.56 6.74 R6 Shares - 8/1/2016 | 2329 10.61 3.54 -3.62 5.61 1.02 1.54 2.49 0.87 6.82 7.08 Bloomberg Barclays U.S. Government Bond Index 9.02 2.02 -2.60 4.92 0.86 1.05 2.30 0.88 6.83 7.94

3 STATISTICS REPORT: GOVERNMENT BOND FUND Expenses Data as of August 31, 2021

Annual expenses A Shares C Shares I Shares R2 Shares R3 Shares R4 Shares R6 Shares Gross expense (%) 0.90 1.40 0.64 1.16 0.89 0.64 0.39 Net expense (%) 0.75 1.39 0.48 1.10 0.85 0.60 0.35

4 STATISTICS REPORT: GOVERNMENT BOND FUND Characteristics Data as of August 31, 2021

Fund statistics Fund Benchmark Average life 6.71 8.25 Average duration 5.30 7.05 Convexity -0.25 1.00 1.14 0.86 Reporting yield 1.14 0.86 2.34 1.54 Average 2.50 1.61 Option adjusted spread 14 1 Turnover ratio FYE 2/28/2021 54.67 Number of securities 420 702

5 STATISTICS REPORT: GOVERNMENT BOND FUND Ratings and rankings Data as of August 31, 2021

Lipper rankings Category: General U.S. Government Funds A C I R2 R3 R4 R6 1 Year 50(36/71) 70(50/71) 37(26/71) 62(44/71) 55(39/71) 38(27/71) 34(24/71) 3 Years 43(29/68) 74(51/68) 32(22/68) 64(44/68) 51(35/68) 35(24/68) 27(18/68) 5 Years 42(26/62) 78(49/62) 31(19/62) 66(41/62) 23(14/62) 10 Years 38(22/57) 76(44/57) 21(12/57) 63(36/57) The ranking information is provided by Lipper Analytical Services. Past performance is no guarantee of future results. Rankings are calculated based upon the total returns of multiple share classes within their respective Lipper category. Different share classes may have different rankings.

Morningstar ratings Category: Intermediate Government A C I R2 R3 R4 R6 Overall ★★★/221 ★★/221 ★★★★★/221 ★★★/221 ★★★/221 ★★★★/221 ★★★★★/221 3-Year ★★★/221 ★★★/221 ★★★★/221 ★★★/221 ★★★/221 ★★★★/221 ★★★★/221 5-Year ★★★/202 ★★/202 ★★★★/202 ★★★/202 Not yet rated Not yet rated ★★★★★/202 10-Year ★★★/175 ★★/175 ★★★★★/175 ★★/175 Not yet rated Not yet rated Not yet rated The Overall Morningstar Rating™ for a fund is derived from a weighted average of the performance figures associated with its three-, five-, and 10-year (if applicable) Morningstar Rating metrics. Different share classes may have different ratings.

6 STATISTICS REPORT: GOVERNMENT BOND FUND Holdings Data as of August 31, 2021

Top holdings w/sector (%) Holdings Sector % U.S. Treasury Notes, 2%, 11/30/2022 U.S. Treasury Obligations 3.54 U.S. Treasury Notes, 2.125%, 11/30/2023 U.S. Treasury Obligations 2.34 U.S. Treasury Notes, 1.125%, 02/28/2027 U.S. Treasury Obligations 2.28 U.S. Treasury Bonds, 3.75%, 11/15/2043 U.S. Treasury Obligations 1.86 U.S. Treasury Notes, 0.5%, 03/31/2025 U.S. Treasury Obligations 1.73 U.S. Treasury Inflation Indexed Bonds, 1.375%, 02/15/2044 U.S. Treasury Obligations 1.56 U.S. Treasury Bonds, 2.75%, 11/15/2047 U.S. Treasury Obligations 1.42 U.S. Treasury Notes, 0.375%, 04/30/2025 U.S. Treasury Obligations 1.38 U.S. Treasury Notes, 0.625%, 05/15/2030 U.S. Treasury Obligations 1.32 U.S. Treasury Bonds, 3%, 05/15/2045 U.S. Treasury Obligations 1.30

7 STATISTICS REPORT: GOVERNMENT BOND FUND Sectors Data as of August 31, 2021

Sector allocation (%) Fund Benchmark Agency Mortgage 59.39 — Money Market 5.44 — Agency 4.34 3.53 Treasury 30.83 96.47

8 STATISTICS REPORT: GOVERNMENT BOND FUND Sectors Data as of August 31, 2021

Percent of Market Effective Weighted Effective Duration Duration Contribution Convexity Option Adjusted Spread Spread Duration Value Average Life Sector Subsector Subsector Portfolio Index Portfolio Index Portfolio Index Portfolio Index Portfolio Index Portfolio Index Portfolio Index Agency Mortgage Agency CMBS Agency Multifamily CMO 14.22 6.5 0.92 7.21 0.53 38 6.42 Agency Multifamily Pass 7.4 7.24 0.54 8.08 0.7 43 7.17 Through Agency RMBS Agency CMO 20.85 3.44 0.72 5 -1.53 20 4.44 Agency Pass Through 16.92 2.31 0.39 5.04 -2.65 -1 4.36 Agency Mortgage 59.39 4.32 2.57 5.93 -1.08 21 5.23 Total Cash Cash Cash 0.01 5.44 0.13 0.01 0.06 0.05 Cash Total 5.44 0.13 0.01 0.06 0.05 US Agency US Agency US 4.34 3.46 7.27 4.06 0.32 0.14 8.01 4.89 0.68 -1.86 18 10 7.15 4.01 US Agency Discount Notes 0.07 2.79 3.01 -1.75 9 2.78 US Agency Total 4.34 3.53 7.27 4.03 0.32 0.14 8.01 4.85 0.68 -1.85 18 10 7.15 3.98 US Treasury US Treasury US Treasury Bonds/Bills 29.27 96.47 7.2 7.16 2.11 6.91 8.53 8.37 1.13 1.1 US Treasury Inflation 1.56 19.76 0.31 22.46 1.78 13 Protected US Treasury Total 30.83 96.47 7.83 7.16 2.41 6.91 9.23 8.37 1.16 1.1 1 Grand Total 100 100 5.3 7.05 5.3 7.05 6.71 8.25 -0.25 1 14 1 3.42 0.14

9 STATISTICS REPORT: GOVERNMENT BOND FUND Sectors Data as of August 31, 2021

Mortgage detail (%) Fund Fannie Mae 37.56 Freddie Mac 19.36 Ginnie Mae 2.47

10 STATISTICS REPORT: GOVERNMENT BOND FUND Quality breakdown Data as of August 31, 2021

Quality breakdown (% market value)* Fund Benchmark AAA 100.00 100.00 Certain holdings may not be included due to de minimis values and rounding. Values may not total 100%. *Due to rounding, values may not total 100%.

11 STATISTICS REPORT: GOVERNMENT BOND FUND Average life Data as of August 31, 2021

Weighted average life (%)* Fund Benchmark 0 to 1 Years 6.19 0.00 1 to 3 Years 14.06 32.75 3 to 5 Years 32.23 22.47 5 to 7 Years 19.90 14.93 7 to 10 Years 13.18 9.36 10 to 20 Years 6.75 5.55 20+ Years 7.69 14.93 *Due to rounding, values may not total 100%.

12 STATISTICS REPORT: GOVERNMENT BOND FUND Duration Data as of August 31, 2021

Effective duration (%)* Key rate duration (%) Fund Benchmark Fund Benchmark Less than 1 Year 11.43 0.08 KRD0.5 0.04 — 1 to 3 Years 23.85 33.26 KRD1 0.13 0.11 3 to 5 Years 23.69 23.08 KRD2 0.17 0.33 5 to 7 Years 20.60 15.48 KRD3 0.42 0.59 7 to 10 Years 7.74 7.69 KRD5 0.76 0.87 10 to 20 Years 11.17 14.40 KRD7 1.06 0.88 20 to 30 Years 1.52 6.00 KRD10 1.05 0.63 *Due to rounding, values may not total 100%. KRD20 1.03 1.82 KRD30 0.65 1.83

13 STATISTICS REPORT: GOVERNMENT BOND FUND RISKS ASSOCIATED WITH INVESTING IN THE FUND: Investments in bonds and other debt securities will change in value based on changes in interest rates. If rates rise, the value of these investments generally drops. RETURNS: 1The quoted performance of the Fund includes performance of a predecessor fund/share class prior to the Fund's commencement of operations. Please refer to the current prospectus for further information. ANNUAL OPERATING EXPENSES: The Fund’s adviser and/or its affiliates have contractually agreed to waive fees and/or reimburse expenses to the extent Total Annual Fund Operating Expenses (excluding acquired fund fees and expenses, dividend and interest expenses related to short sales, interest, taxes, expenses related to litigation and potential litigation and extraordinary expenses) exceed 0.75% for A Shares, 0.35% for R6 Shares, 0.48% for I Shares, 1.10% for R2 Shares, 0.85% for R3 Shares and 0.60% for R4 Shares of the average daily net assets. The Fund may invest in one or more money market funds advised by the adviser or its affiliates (affiliated money market funds). The Fund’s adviser has contractually agreed to waive fees and/or reimburse expenses in an amount sufficient to offset the fees and expenses of the affiliated money market funds incurred by the Fund because of the Fund’s investment in such money market funds. This waiver is in effect through 6/30/2022 for A Shares, 6/30/2022 for R6 Shares, 6/30/2022 for I Shares, 6/30/2022 for R2 Shares, 6/30/2022 for R3 Shares and 6/30/2022 for R4 Shares, at which time the adviser and/or its affiliates will determine whether to renew or revise it. The difference between net and gross fees includes all applicable fee waivers and expense reimbursements. PORTFOLIO STATISTICS: Average life: The length of time the principal of a debt issue is expected to be outstanding. Duration: Measures price sensitivity of securities to interest rate changes. Convexity: A measure of the change in a ’s duration with respect to changes in interest rates. The more convex a security is, the more its duration will change with interest rate changes. Yield to maturity: The rate of return anticipated on a bond if it is held until the maturity date. Reporting yield: The lowest potential yield that can be received on a bond without the issuer actually defaulting. Current yield: Current yield is an investment's annual income (interest or ) divided by the current price of the security. This measure looks at the current price of a bond instead of its face value. Current yield represents the return an investor would expect if the owner purchased the bond and held it for a year, but current yield is not the actual return an investor receives if he holds a bond until maturity. Average coupon: A calculation of the total interest cost for a bond issue expressed as a percentage. Option-adjusted spread (OAS): The spread relative to a risk-free interest rate, usually measured in basis points, that equates the theoretical present value of a series of uncertain cash flows of an instrument to its current market price. OAS can be viewed as the compensation an investor receives for assuming a variety of risks (e.g. liquidity premium, default risk, model risk), net of the cost of any embedded options. Turnover ratio: High portfolio turnover will likely result in additional tax consequences. QUALITY DISTRIBUTION: The manager uses credit quality ratings on underlying securities of the portfolio from five major ratings agencies - S&P, Moody's, Fitch, Kroll and DBRS Morningstar. When calculating the credit quality breakdown, the manager selects the highest rating of the agencies that have provided a securities rating. Securities that are not rated by any of the five agencies are reflected as not rated. HOLDINGS: The top 10 holdings listed exclude cash and money markets. Holdings are subject to change. The holdings listed should not be considered recommendations to purchase or sell a particular security. Each individual security is calculated as a percentage of the aggregate market value of the securities held in the Fund and does not include the use of derivative positions, where applicable. MORNINGSTAR AND LIPPER: The Morningstar RatingTM for funds, or "star rating", is calculated for managed products (including mutual funds, variable annuity and variable life subaccounts, exchange-traded funds, closed-end funds, and separate accounts) with at least a three-year history. Exchange traded funds and open-ended mutual funds are considered a single population for comparative purposes. It is calculated based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a managed product's monthly excess performance, placing more emphasis on downward variations and rewarding consistent performance. The top 10% of products in each product category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10% receive 1 star. The Overall Morningstar Rating for a managed product is derived from a weighted average of the performance figures associated with its three-, five-, and 10-year (if applicable) Morningstar Rating metrics. The weights are: 100% three-year rating for 36-59 months of total returns, 60% five-year rating/40% three-year rating for 60-119 months of total returns, and 50% 10- year rating/30% five-year rating/20% three-year rating for 120 or more months of total returns. While the 10-year overall star rating formula seems to give the most weight to the 10-year period, the most recent three-year period actually has the greatest impact because it is included in all three rating periods. Rankings do not take sales loads into account. The ranking information is provided by Lipper Analytical Services. Past performance is no guarantee of future results. Rankings are calculated based upon the total returns of multiple share classes within their respective Lipper category. Different share classes may have different rankings. INDEXES DEFINED: Mutual funds have fees that reduce their performance: indexes do not. You cannot invest directly in an index. The Bloomberg Barclays U.S. Government Bond Index is an unmanaged index of securities issued by the U.S. Government.

14 STATISTICS REPORT: GOVERNMENT BOND FUND NOT FDIC INSURED | NO BANK GUARANTEE | MAY LOSE VALUE

Contact JPMorgan Distribution Services, Inc. at 1-800-480-4111 for a fund prospectus. You can also visit us at www.jpmorganfunds.com. Investors should carefully consider the investment objectives and risks as well as charges and expenses of the before investing. The prospectus contains this and other information about the mutual fund. Read the prospectus carefully before investing. Total return figures (for the fund and any index quoted) assume payment of fees and reinvestment of dividends (after the highest applicable foreign withholding tax) and distributions. Without fee waivers, fund returns would have been lower. Due to rounding, some values may not total 100%. J.P. Morgan Funds are distributed by JPMorgan Distribution Services, Inc., which is an affiliate of JPMorgan Chase & Co. Affiliates of JPMorgan Chase & Co. receive fees for providing various services to the funds. JPMorgan Distribution Services, Inc. is a member of FINRA. J.P. Morgan Asset Management is the brand name for the asset management business of JPMorgan Chase & Co and its affiliates worldwide. If you are a person with a disability and need additional support in viewing the material, please call us at 1-800-343-1113 for assistance. ©JPMorgan Chase & Co., September 2021

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